Western Union Is Ready to Focus on Cryptocurrencies
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Dec. 19, 2018
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The international money transfer service Western Union has been following the crypto ecosystem — and now has shared its readiness to integrate the blockchain technology and to provide crypto assets like Bitcoin as a payment option for its customers.

“I think cryptocurrency may become one more option of currency, or assets, around the globe to be exchanged between people and businesses. If that happens, we will be ready to launch.” — Said Odilon Almeida, president of Western Union’s Global Money Transfer.

With years of experience transferring money in digital format, with access to billions of bank accounts and with more than half a million retail agent locations WU is in a favorable position to enter this market, bridging the gap between fiat currencies and cryptos.

“Western Union is ready today to adopt any kind of currency. We already operate with 130 currencies. If we one day feel like it’s the right strategy to introduce cryptocurrencies to our platform, technology-wise it’s just one more currency,” Almeida said.

Why it is important

  • The involvement of Western Union, one of the most well-known companies in the financial industry, in the crypto ecosystem may contribute to the cryptocurrencies acceptance as a viable mainstream financial option.

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